Xi hints at compromise with U.S to end trade dispute

Chinese President Xi Jinping has signaled of compromise with the United States to end the going trade war between the two largest economies, by saying his U.S counterpart Donald Trump that China does not want to see negative impacts on the two countries and the global trade.

During a telephone conversation Trump on Thursday, Xi said Trump that disagreement between the two sides on trade issues for some time has caused a negative impact on the relevant industries in both countries as well as on the global trade and it was not what China wanted to see, according to the Chinese foreign ministry.

Last time the two leaders have had a telephone conversation with each other was six months ago. Since then, the two countries have been locked in a fierce tit-for-tat trade dispute, imposing tariffs on each other’s goods. The U.S has imposed tariffs on Chinese goods worth $250 billion while China has levied duty on $110 billion worth U.S goods. The Trump administration has accused China of unfair trade practices, which the later denies.

Xi said that the economic teams of the two countries should increase their contacts and conduct consultations over issues of mutual concern so as to reach an agreement which is acceptable for both sides. “There were successful examples in the past that both countries solved their differences through coordinated cooperation,” Xi added.

Photo Courtesy: Business Insider

Trump said that the United States attaches importance to U.S.-China economic and trade cooperation and would like to continue to expand export to China and that the economic teams from the two sides need to enhance exchanges and consultations

The foreign ministry stated that Xi said Trump that the upcoming China International Import Export being held in Shanghai from Nov. 5 to 10 shows China is willingness to increase import and further expands its opening-up and that China is looking forward to increase see many U.S companies participate in the event.

Xi and Trump also agreed to meet at the G20 summit in Argentina later this month and further exchange views on bilateral ties and other major issues.

Trump said during the conversation that he looks forward to meeting Xi during the G20 summit so that they can have an in-depth discussion about some major issues. The U.S. president added that he hopes their two countries will make joint efforts to prepare for the meeting.

Later, Trump tweeted, “Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussion on North Korea!”

Trump-Xi talks the Korean Peninsula situation

The two sides also exchanged views on the situation on the Korean Peninsula. Xi emphasized that since the beginning of this year, the Korean Peninsula situation has undergone positive changes, according to the Chinese foreign ministry.

China appreciates the historic meeting between President Trump and Kim Jong Un, top leader of the Democratic People’s Republic of Korea (DPRK), which promotes denuclearization of the Korean Peninsula and the political settlement of the Korean Peninsula issue, said Xi.

China hopes that the United States and the DPRK take care of each other’s concerns and further advance the denuclearization of the Korean Peninsula in parallel with the building of a peace mechanism on the peninsula, Xi said, adding that China will continue to play a constructive role.

Trump said that since the beginning of this year, talks between the United States and the DPRK have made positive progress.

The U.S. side attaches great importance to China’s important role in the Korean Peninsula issue and is willing to continue to strengthen communication and coordination with China, he added.

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